As part of its support of small and medium-sized enterprises (SMEs) and their role in job creation, Bank of America (BofA) has loaned US$25.9bn to these businesses in 3Q10.
In the first nine months of 2010, the bank loaned a total of US$71.2bn to SMEs – those with less than US$50m in annual revenues. That amount represents an increase of US$12.6bn over the same period last year.
“In this challenging economy, small and medium-sized businesses are vital to the nation’s ongoing recovery. Without their help, creating new jobs will continue to be a challenge,” said David Darnell, president of global commercial banking for BofA. “While we continue trying to make every good loan we can, demand for new credit among smaller businesses remains limited. Business owners instead have told us their greatest need is more demand for their goods and services.”
UK firms investment in training and development will increase, on average, by a fifth in the next year, claims Robert Half recruitment after interviewing 100 financial services (FS) executives.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.